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Electronic Federal Tax Payment System

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The enrollment deadline for the Electronic Funds Tax Payment System (EFTPS) has been extended to July 1, 1997. This program will require employers to make their federal employment tax deposits by electronic funds transfer. Employers may choose to make the transfers by ACH (Automated Clearing House) debit -where the employer directs the EFTPS to collect the payment from the employer's bank - or by ACH credit - where the employer directs its bank to forward the payment to the EFTPS. We will keep you advised as more information becomes available.